Vast Resources PLC (LON:VAST) saw its shares rise after it told investors that recent successes in Romania has led to possible options for non-dilutionary financing. The company said it has been presented with a number of potential financing options that will not dilute shareholdings and it is now in talks with metal traders and debt providers.
Additionally, thanks to positive results from drilling and development, the company is also seeing the possibility of significant cost savings at the Manaila mine, with up to 25% of savings in production costs by eliminating certain requirements for ore transport.
Earlier in the week, Vast revealed results of the first phase of drilling at the Carlibaba prospect have confirmed its suitability as a second open pit mine within the Manaila Polymetallic project in Romania.
Elsewhere, Thor Mining PLC (LON:THR) has announced drilling success at the Pilot Mountain tungsten project in Nevada. The explorer revealed that holes have unearthed tungsten mineralisation in the Desert Scheelite and Good Hope areas.
W Resources PLC (LON:WRES) has raised £1mln of new capital to support the company during the ongoing construction phase of the La Parrilla mine development in Portugal. The company is meanwhile working to close a US$30mln financing facility for La Parilla.
The interim funding will help cover costs relating to the construction of the crusher and civil works, longer lead items, and to initiate steps to allow early production systems (subject to tungsten prices).
Landore Resources Ltd (LON:LND) shares rose today after revealing that it has received its final assay results from its summer drill programme and they confirm that the company continued to hit wide zones of gold mineralisation. The mineralisation was encountered within the inferred resource area of the BAM East gold deposit at the Junior Lake Property, in Ontario.
Greatland Gold plc (LON:GGP) shares advanced on Tuesday after it announced the initial exploration campaign kicks off at the Panorama project in the Pilbara region of Australia. The programme is targeting gold and cobalt. It will include orientation drainage sampling, soil sampling and geological reconnaissance.